Syllabus subtopic: Disaster and disaster management.

News: Vice-President M Venkaiah Naidu recently unveiled the ‘Red Atlas Action Plan Map’ atlas and the ‘Coastal Flood Warning System App (CFLOWS-Chennai)’ for flood mitigation in Chennai, Tamil Nadu.

Prelims and mains focus: Features, need for and significance of the Atlas and CFLOWS.

About Red Atlas Action Plan Map

• It is a first of its kind ready reckoner map, prepared by Union Ministry of Earth Sciences to aid state government of Tamil Nadu in effective flood mitigation in Chennai which witnessed the worst deluge in 2015.
• The atlas is aimed at flood mitigation, preparedness, operations and management aspects.
• The manual besides showcasing the probable scenarios for different rainfall periods also provides information on corporation wards that are likely to be affected due to flooding, and the areas that may need evacuation in Chennai by taking into account all historical datasets.

Coastal Flood Warning System app for Chennai (CFLOWS- CHENNAI):

• Launched by NIOT.
• It is India’s first integrated coastal flood warning system.
• It is an integrated GIS-based decision support system to provide forecast on potential inundation 10 days in advance.
• It will be hosted and made operational at National Centre for Coastal Research (NCCR) with meteorological data inputs from India Meteorological Department (IMD), National Centre for Medium Range Weather Forecasting (NCMRWF) and Indian National Centre for Ocean Information Services (INCOIS).
• The system can simulate the scenario and predict what will happen in a particular area.

Global Microscope on Financial Inclusion Report

Syllabus subtopic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.

News: The Economist Intelligence Unit has released the 2019 edition of the Global Microscope on Financial Inclusion report.

Prelims focus: Key findings, about the report, about EIU

Mains focus: Challenges for India and ways to address them.

• The 2019 edition of the Global Microscope report features 11 new gender focussed indicators that measure financial inclusion for both women as well as men.

India- specific observations:

1. India is among top nations with most conducive environment for financial inclusion in terms of allowing non-banks to issue e-money, proportionate customer due diligence and effective consumer protection.
2. The overall environment for financial inclusion has improved globally with India, Colombia, Peru, Uruguay and Mexico having the most favourable conditions for inclusive finance.
3. Within the overall framework for promoting digital financial inclusion, the report identified four basic enablers – allowing non-banks to issue e-money, presence of financial service agents, proportionate customer due diligence and effective financial consumer protection.
4. India was among the top countries that safeguard e-money via some sort of deposit insurance or protection.

Efforts by India:

1. In India, the Reserve Bank has prepared a draft National Strategy for Financial Inclusion to deepen financial services’ coverage in the country.
2. The long-awaited strategy is expected to be finalised in 2019 and will cover a five-year period.
3. The RBI has set up a high-level committee to review the existing status of digitisation and devise a medium-term strategy for increasing digital payments.
4. In August 2019, the RBI released the Enabling Framework for Regulatory Sandbox (RS), which creates the basis for a regulatory sandbox that will allow fintech start-ups to live-test innovative products and services.

About the report:

• Produced by the Economist Intelligence Unit (EIU), the research and analysis division of The Economist Group.

• Created in 1946 and is the world leader in global business intelligence.

• The Microscope report was first published in 2007 and was originally developed for countries in Latin American and Caribbean regions but in 2009 it was expanded into a global study.

• The report is a benchmarking index that assesses enabling environment for financial access in 55 countries across 5 categories.

• Five parameters across which countries are assessed:

1. Government and Policy Support.
2. Products and Outlets.
3. Stability and Integrity.
4. Consumer Protection.
5. Infrastructure.

About EIU

• The Economist Intelligence Unit (EIU) is an organization that provides forecasting and advisory services to assist entrepreneurs, financiers, and government officials.
• The EIU offers its clients detailed analyses and forecasts for 205 countries.
• One of EIU's specialities is consulting tailored to its clients' specific business intelligence needs.